BlackRock private bank hire reflects rising trend

Private banks have not typically been big clients of mutual fund managers in Asia, but that has been changing in recent years. As mutual fund sales to, and through, wealth managers has risen, so traditional fund houses are sharpening their focus on them as a client segment. The latest example of this trend is BlackRock’s appointment last week of Kueh Tan-Yuan as head of private bank business and strategic client development for Asia ex-Japan. She has moved to Hong Kong from UBS Se…